Singapore Paincare expands operations and client base with TS Medical acquisition

The SGX-listed group acquired 51% of the company which operates Doctors for Life Medical.

Singapore Paincare Holdings Limited announced that it has entered into a sale and purchase agreement to acquire 51% of TS Medical Private Limited (TSM) for $578,000 which is expected to be completed on or before 12 February 2026.

This forms part of a strategy to expand the Group’s business operations locally and grow its client base, the company said in a bourse filing.

According to the company, TSM operates a general medical clinic under the name Doctors for Life Medical, located at 3 Pickering Street, Nankin Row, Singapore, providing general medical services.

Prior to the transaction, TSM was wholly owned by Dr Toh Lim Kai, who will be employed as a general medical practitioner following completion, as stated in an employment agreement dated 5 February 2026.

Singapore Paincare reported that, based on TSM’s unaudited accounts for the financial year ended 31 December 2024, the net profit before tax attributable to the acquired shares is approximately $126,877, and the net assets attributable to the shares are approximately $346,933.

The acquisition will be partly funded using remaining proceeds from the company’s 2020 initial public offering and private placement, with the remainder from internal resources, the company said.

Singapore Paincare classified the transaction as a non-discloseable transaction under SGX Catalist Rules.

The company confirmed that no directors or controlling shareholders have any direct or indirect interest in the acquisition, other than through their shareholdings in Singapore Paincare.